[ISC] Q 3 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 3 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

Samsung Ltd., which is an unlisted company and not a NBFC or HFC, had issued following debentures:

(a) 1,00,000, 10% fully convertible debentures of ₹ 100 each on 1st April, 2018 redeemable by conversion into shares after 5 years.

(b) 20,000, 10% Debentures of ₹ 100 each redeemable after 4 years, 25% of the debentures are to be redeemed by payment and balance by conversion into new debentures.

How much amount it shall transfer to DRR as per the Companies Act, 2013?

Solution:-

(a) DRR is not required in the redemption of convertible debentures.

(b) DRR = 10% of (20,00,000 * 25%)

DRR = ₹ 50,000

DRR is to be created for the non-convertible part of the debentures outstanding.

Here is the list of all Solutions of Redemption of Debenture of TS Grewal class 12 ISC Board 2023-24.

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54Question – 54
55Question – 55
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Anurag Pathak

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